Medallion Metals Reports Strong Gold Mineralisation at Forrestania's Teddy Bear Deposit

Medallion Metals Highlights New Gold Potential at Teddy Bear Deposit

Medallion Metals Limited has announced encouraging outcomes from its review of historical drilling at the Teddy Bear Gold Deposit, part of the Forrestania Gold Project. Situated 64km north of the Cosmic Boy Concentrator, the Teddy Bear site is emerging as a key gold prospect for the company. The review uncovered broad, shallow gold mineralisation spanning roughly 500 meters of strike both inside and around the historical open pit.

The company is prioritising systematic advancement of multiple gold prospects within the Forrestania Gold Project. The Teddy Bear findings are anticipated to support Medallion's Early Production Strategy by contributing to a future Mineral Resource Estimate (MRE) and exploring deposit extensions. This aligns with Medallion's broader objective to expand its resource base and improve gold production capacity.

Historical Drilling Validates High-Grade Gold Intercepts

Medallion's analysis of historical drilling data at Teddy Bear confirms broad, high-grade gold mineralisation beyond the historical pit boundaries. Key intercepts include 18 meters at 3.64 grams per tonne (g/t) gold from 57 meters, including 3 meters at 10.23 g/t gold from 64 meters, and 40 meters at 1.41 g/t gold from 20 meters, including 8 meters at 2.63 g/t gold from 42 meters.

These results highlight substantial resource growth potential at Teddy Bear. Additionally, a Slimline RC drilling program on a historical stockpile adjacent to the Teddy Bear waste dump confirmed an average stockpile grade of 0.95 g/t gold. This supports ongoing evaluation of processing opportunities and complements Medallion's Early Production Strategy.

Forrestania Gold Project Integral to Medallion's Expansion Plans

The Forrestania Gold Project, including the Teddy Bear Deposit, is central to Medallion's growth strategy. Located within the "Western Trend" of the Forrestania Greenstone Belt, the project lies about 16km west of the 1.4 million-ounce Bounty Gold Mine. Medallion aims to build long-term resources and identify near-term processing opportunities at Forrestania.

Beyond Teddy Bear, the project hosts several other promising gold prospects. Medallion's systematic evaluation seeks to unlock the full potential of Forrestania, supporting resource expansion, mine life extension, and sustainable gold production.

Continued Exploration and Development Plans at Teddy Bear

Medallion Metals has outlined plans for further exploration and development at Teddy Bear. Additional drilling will focus on resource evaluation, grade validation, and testing mineralisation extensions. These efforts are key to advancing Teddy Bear toward a future Mineral Resource Estimate.

Future exploration will include deep sectional drilling to define the plunge geometry of mineralisation and assess deeper mineralisation potential. Medallion is committed to maximising Teddy Bear's contribution to its resource growth strategy.

Geological Overview of the Teddy Bear Deposit

Gold mineralisation at Teddy Bear occurs within a chert unit situated between a hangingwall basalt and an ultramafic footwall. The mineralisation is controlled by a bedding sub-parallel structure dipping 30 to 40 degrees east-southeast. This geological setting resembles that of the nearby Bounty Gold Mine, reinforcing confidence in Teddy Bear's potential.

Historical drilling has delineated mineralisation north and south of the shallow pit and down dip. The system remains open in all directions, indicating significant resource expansion opportunities. Ongoing exploration aims to better define mineralisation extent and geometry.

Stockpile Assessment Bolsters Early Production Strategy

In addition to in-situ mineralisation, Medallion conducted a Slimline RC drilling program to evaluate a historical stockpile near the Teddy Bear waste dump. The stockpile, with a surveyed volume of approximately 47,000 cubic meters, showed an average grade of 0.95 g/t gold.

This assessment is a key part of Medallion's Early Production Strategy, focused on identifying near-term processing prospects while building long-term resources. The stockpile results support efforts to unlock value across the Forrestania Gold Project and enhance production capabilities.

Risks and Challenges Facing Medallion Metals

Despite promising developments at Teddy Bear, Medallion Metals faces challenges including successful resource evaluation, grade validation, and extensional drilling to fully realise the site's potential. Geological complexities such as plunge geometry require detailed exploration and analysis.

Securing adequate funding and resources for ongoing exploration and development is critical. The company must also address environmental and regulatory considerations related to expanding Forrestania operations. Nonetheless, Medallion remains dedicated to advancing its growth strategy and maximising its gold asset value.

Investor Focus: Upcoming Milestones at Teddy Bear

Investors should monitor Medallion Metals' exploration and development progress at Teddy Bear closely. Key updates will include results from further drilling, resource evaluation, grade validation, and steps toward a future Mineral Resource Estimate.

Additionally, Medallion's broader Forrestania strategy, including development of other gold prospects, will be of interest. As the company advances its growth plans, investors will assess its success in expanding resources and achieving production targets.